U.S. Steel Unveils 2023 Climate-Related Financial Disclosures Report: A Step Towards Sustainable Future

Last updated: November 20, 2023

U.S. Steel Corporation has unveiled its 2023 Task Force on Climate-Related Financial Disclosures (TCFD) report.

The report provides a comprehensive look at how the company manages climate-related risks, identifies potential opportunities, and outlines its approach to tackling climate-related issues in governance, strategy, risk management, and metrics and targets.

2023 Climate-Related Financial Disclosures Report:
Courtesy of: https://www.theactuarymagazine.org

The 2023 TCFD report is a testament to U.S. Steel’s commitment to transparency and disclosure in its sustainability program. It builds on the company’s inaugural TCFD report in 2021, reassessing climate-related physical and transition risks and introducing new location-based quantitative impact assessments of facilities and suppliers.

The insights from the TCFD report are instrumental in integrating updated climate risk considerations into U.S. Steel’s Enterprise Risk Management (ERM) program, thereby bolstering its overall business resilience.

The report also shines a light on several climate-related opportunities for U.S. Steel, such as the potential to expand low-carbon and specialized products to meet growing market demand and the increased use of steel in renewable energy production and distribution.

U.S. Steel, a leading steel producer founded in 1901, is committed to advancing a more secure, sustainable future for the company and its stakeholders.

With a renewed focus on innovation, U.S. Steel serves various industries, including automotive, construction, appliance, energy, containers, and packaging, with high-value-added steel products. The company maintains competitively advantaged iron ore production and has an annual raw steelmaking capability of 22.4 million net tons.

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